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In 2023, Amanda and Jaxon Stuart have a daughter who is 1 year old. The Stuarts are full-time students and are both 23 years old.

image text in transcribedimage text in transcribed In 2023, Amanda and Jaxon Stuart have a daughter who is 1 year old. The Stuarts are full-time students and are both 23 years old. Their only sources of income are gains from stock they held for three years before selling and wages from part-time jobs. What is their earned income credit in the following alternative scenarios if they file jointly? Use Exhibit 8-10. Note: Leave no answer blank. Enter zero if applicable. Problem 8-74 Part c (Static) Their AGl is $30,000, consisting of $23,000 of wages and $7,000 of lottery winnings (unearned come). Note: Round your intermediate calculations to the nearest whole dollar amount. \begin{tabular}{|c|c|c|c|c|c|c|} \hline \begin{tabular}{c} Qualifying \\ Children \end{tabular} & \begin{tabular}{c} Maximum Earned \\ Income Eligible \\ for Credit \end{tabular} & \begin{tabular}{c} (2) \\ Credit \% \end{tabular} & \begin{tabular}{c} (3) \\ Maximum \\ Credit \\ (1)(2) \end{tabular} & \begin{tabular}{c} (4) \\ Credit Phase-Out for \\ AGI (or earned income \\ if greater) over This \\ Amount \end{tabular} & \begin{tabular}{c} (5) \\ Phase-Out \\ Percentage \end{tabular} & \begin{tabular}{l} No Credit When AGI \\ (or earned income if \\ greater) Equals or \\ Exceeds This Amount \\ (4)+[(3)/(5)] \end{tabular} \\ \hline \multicolumn{7}{|c|}{ Married taxpayers filing joint returns } \\ \hline 0 & $7,840 & 7.65% & $600 & $16,370 & 7.65% & $24,210 \\ \hline 1 & 11,750 & 34 & 3,995 & 28,120 & 15.98 & 53,120 \\ \hline 2 & 16,510 & 40 & 6,604 & 28,120 & 21.06 & 59,478 \\ \hline 3+ & 16,510 & 45 & 7,430 & 28,120 & 21.06 & 63,398 \\ \hline \multicolumn{7}{|c|}{ All taxpayers except married taxpayers filing joint returns } \\ \hline 0 & $7,840 & 7.65% & $600 & $9,800 & 7.65% & $17,640 \\ \hline 1 & 11,750 & 34 & 3,995 & 21,560 & 15.98 & 46,560 \\ \hline 2 & 16,510 & 40 & 6,604 & 21,560 & 21.06 & 52,918 \\ \hline 3+ & 16,510 & 45 & 7,430 & 21,560 & 21.06 & $56,838 \\ \hline \end{tabular}

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